The chance to grow one of the busiest seaside businesses in Tynemouth is up for grabs after the leasehold on a guest house became available.
61 Front Street, one of the most exclusive addresses in North Tyneside, was originally built as a Georgian town house around 1750m but it was later used as a principal billet for the officers of the Tynemouth garrison in the late 18th century before becoming a guest house from the early 19th century.
Arranged over three storeys, the brick building with a pitched slate roof now comprises a seven-bed guest house and separate tea rooms, and the leasehold is available for £150,000, with freehold also available, through Rook Matthew Sayer.
The firm’s client has owned the business since February 2010 and has increased both the turnover and profitability each year whilst operating under management.
The split in turnover, with reaches around £180,000 a year is circa 60% guest house, 40% tea rooms and there remains plenty of scope for further growth from the current business plus additional trading opportunities for the entrepreneur.
The guest house has seven letting rooms all of which have en-suite shower rooms. All bedrooms are decorated to a very high standard with the rear facing rooms overlooking the mouth of the river.
The letting accommodation consists of five double bedrooms and two twin bedrooms plus staff or owner accommodation, which is a double bedroom fitted to the same standard as the other bedrooms.
Front Street itself is home to a variety of independent retail businesses and restaurants, all of which have benefitted from a dramatic increase in visitor numbers in recent years.
The property also has a comfortable guest lounge, a light and spacious breakfast room, which also doubles up as a tea room through the day, and an attractive walled garden to the rear.
Guest access is through the front door facing Front Street, which leads into the hallway and reception area which give access to the guest lounge, the breakfast/tea room and kitchen.
The tastefully decorated guest lounge consists of wooden flooring, fire with surround and a range of comfortable seating. The breakfast/tea room has a traditional feel and is of a generous size set out with doors on to the rear garden. The guest house benefits from a kitchen fitted with comprehensive cooking equipment along with preparation area and sinks. The property also has a cellar which is used for storage and laundering.